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 Dynamics of Planning Budgeting and Financial Forecasting F2074 QR Code

Dynamics of Planning, Budgeting and Financial Forecasting



This advanced course for financial controllers emphasizes just-in-time information, dynamic budgeting and forecasting, statistical applications and the use and control of financial information.

Course Objectives:

At the end of this course the participants will be able to:

  • Understand current accounting issues.
  • Understand the organization, reporting, and information management for financial controllers.
  • Understand state-of-the-art statistical information techniques.
  • Understand alternatives to standard A/R and A/P: purchase and sales order controls, EDI, and  EFT systems.
  • Understand alternatives to monthly close.
  • Understand how financial controllers can set up a managerial information network.
  • Understand dynamic planning, budgeting, and forecasting for financial controllers.

Targeted Audience:

  • Financial Professionals, Finance Controllers, Treasurers, and Inventory Professionals
  • Senior Professionals with direct responsibility for financial management and control
  • Accountants, Sales, and Purchasing Professionals and those responsible for the relationship with banks
  • Any Professional, at junior or senior level, who is a part of the financial decision- building a team
  • New Interns and Trainees with finance-related responsibilities
  • Head of Departments, Process Owners, Administrative Personnel associated with budget management

Course Outlines:

Unit 1: Learning Objectives:

  • Get the Techniques to Translate Corporate Strategies into Workable Budgets and Operational Plans.
  • Step into an Important New Corporate Role: Growth Manager.
  • Improve Decision Making in the Face of Uncertainty.
  • Control Costs and Deploy Resources More Effectively.
  • Become an Active Participant in Strategic Planning.

Unit 2: Current Accounting Strategies:

  • Understand Management Accounting.
  • Analyze the Relationship of Management Accounting and GAAP Accounting.
  • Develop and Learn the Flow Concept of Information.
  • Review the Flows of Information in GAAP Accounting.
  • Understand the Eleven Information Segments Required.
  • Understand Accounting’s Position in Current Organizations.
  • Understand the Changes in Approaches to A/P and A/R.
  • Understand the Relationship of the Various Segments of Business to the Controller.
  • Realize the Power Position of Information.

Unit 3: Information Flow Alternatives:

  • Understand the Flow Control Related to the Procurement Function.
  • Determine the Controller’s Relationship in Controls and Processes.
  • Understand the Three Flows and Their Relationship to the GL Process.
  • Learn the Use of EDI and EFT Processes.
  • Discuss A/R and the Evolution to Control and Automation.

Unit 4: Information as a Corporate Resource:

  • Understand the Role of Information in the Modern Organization.
  • Learn the Evolution of Information Processes.
  • Understand the Position of Information Resource Centers in the Organization.
  • Understand the Use of Relational Database Techniques.

Unit 5: Dynamic Planning, Forecasting, and Budgeting:

  • Develop the Process of Objective Setting and Relate That to Planning.
  • Learn the Flow Process of Forecasting and Budgeting.
  • Understand Approaches to the Budgeting Process.
  • Understand the Process of Dynamic Use of Information.
  • Understand Dynamic Planning, Forecasting, and Budgeting Using the Internet.

Unit 6: Delegation:

  • Understand the Use of Statistics in Finance.
  • Learn the Techniques Used in Statistics in Finance.
  • Understand the Applications Best Suited for Statistical Techniques.

Unit 7: Future Controllership Strategies:

  • Discuss Future Strategies for Controllership.
  • Analyze the Changes in Information Strategies.
  • Grasp the Implications of Change on the Controllership Function.
  • Understand the Opportunities Provided by the Changes.
  • Realize the Power Position of the Controllership Process.
  • Consider Future Strategies in Relation to Current Operating Position.

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